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Comparison

Side-by-side payments and cash to close

Lowest monthly: Assumable Loan

Total monthly

Payment stack including taxes, insurance, and HOA

Cash to close

Down payment / equity bring-to

Detail
Assumable Loan
Assumable · FHA
Assumable Loan + Second
Assumable · FHA
Current Market Conventional
New · Conventional
Loan amount$188,437$188,437$359,910
Remaining term (yrs)20.320.330.0
Secondary amount$0$171,473$0
Funding fee$0$0$0
Note rate4.15%4.15%7.11%
Blended rate5%6.429%7.35%
1st payment$1,141.70$1,141.70$2,421.14
2nd payment$0.00$1,143.15$0.00
Taxes / mo$377.00$377.00$377.00
Insurance / mo$150.00$150.00$150.00
MI / mo$166.36$166.36$71.98
HOA / mo$0.00$0.00$0.00
Total monthly$1,835.06$2,978.21$3,020.12
Cash to close$211,463$39,990$39,990